Well as stated before Ebioss look to be working a funding round, first the research note 10 days ago and then a slew of positive RNSs (3 in 3 successive working days), wait and see what they raise and then wait to see their next step.
September 16, 2016 In accordance with the provisions of Circular 15/2016 of the Alternative Investment Market through this is available to the market the following information on EBIOSS Energy, AD: Subsidiary EBIOSS Energy, Biomass Distribution, has obtained… Read More
I do hope people are reading the Ebioss note above, for snippets like this,
"and a partnership with REACT Energy plc has been signed in the UK to use Eqtec Gasifier Technology (EGT) exclusively on its projects for which the first order was accepted in December 2015. Driven by its supply security shortage, positive regulatory framework and numerous opportunities, the UK is becoming a strategic priority for the company"
"The €7m debt issuance achieved by the company… Read More
If you read the above, dated less than a week ago, it will show clearly the path Ebioss wish to take and raising another €9m is clearly stated to make up a short term war chest of €16m (they have authority to raise nearly that again and state about cheap ECB money being available).
My thoughts are this note was issued as a precursor to this fundraise through a… Read More
On the point of liquidity, the Company last Summer restructured it's debt and converted €5.7m of debt into equity at 11p. Those that took the equity were ex-employees, larger shareholders, Directors, people that had provided services and not been paid and lenders. They agreed the solution under the Examinership as the other option was liquidation and no pay out.
The equity had a lock-in period of one year and that past a couple of months back, so there will always be an over hang here… Read More
If you look back you will see that I have been putting forward the argument that Ebioss want to develop the UK assets of REAC, that they have now got a strategic partner in China Energy and importantly a large funder to develop the assets. They have also been organising and getting approval for a circa €30m bond raise, the recent investment note states they have raised €7m and their short term target is €16m. They have also had shareholder approval to list on… Read More
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